In the past week, OXY stock has gone down by -1.27%, with a monthly decline of -1.97% and a quarterly plunge of -8.13%. The volatility ratio for the week is 2.23%, and the volatility levels for the last 30 days are 1.94% for Occidental Petroleum Corp. The simple moving average for the past 20 days is -1.70% for OXY’s stock, with a -0.76% simple moving average for the past 200 days.
Is It Worth Investing in Occidental Petroleum Corp. (NYSE: OXY) Right Now?
Occidental Petroleum Corp. (NYSE: OXY) has a higher price-to-earnings ratio of 16.75x compared to its average ratio, The 36-month beta value for OXY is at 1.64. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 4 rating it as “overweight,” 15 as “hold,” and 1 as “sell.”
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The public float for OXY is 883.98M, and currently, shorts hold a 3.70% of that float. The average trading volume for OXY on July 23, 2024 was 6.78M shares.
OXY) stock’s latest price update
Occidental Petroleum Corp. (NYSE: OXY)’s stock price has plunge by -3.04relation to previous closing price of 63.13. Nevertheless, the company has seen a -1.27% plunge in its stock price over the last five trading sessions. reuters.com reported 2024-07-19 that Colombia’s majority state-owned energy company Ecopetrol said on Friday that it is in talks with U.S. oil major Occidental Petroleum to possibly buy a stake in CrownRock.
Analysts’ Opinion of OXY
Many brokerage firms have already submitted their reports for OXY stocks, with Wolfe Research repeating the rating for OXY by listing it as a “Outperform.” The predicted price for OXY in the upcoming period, according to Wolfe Research is $81 based on the research report published on July 18, 2024 of the current year 2024.
Truist, on the other hand, stated in their research note that they expect to see OXY reach a price target of $69, previously predicting the price at $84. The rating they have provided for OXY stocks is “Hold” according to the report published on May 16th, 2024.
Scotiabank gave a rating of “Sector Outperform” to OXY, setting the target price at $90 in the report published on April 11th of the current year.
OXY Trading at -1.21% from the 50-Day Moving Average
After a stumble in the market that brought OXY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -14.01% of loss for the given period.
Volatility was left at 1.94%, however, over the last 30 days, the volatility rate increased by 2.23%, as shares surge +0.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.88% lower at present.
During the last 5 trading sessions, OXY fell by -1.27%, which changed the moving average for the period of 200-days by -2.00% in comparison to the 20-day moving average, which settled at $62.28. In addition, Occidental Petroleum Corp. saw 2.51% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OXY starting from BERKSHIRE HATHAWAY INC, who purchase 334,461 shares at the price of $59.75 back on Jun 17 ’24. After this action, BERKSHIRE HATHAWAY INC now owns 255,281,524 shares of Occidental Petroleum Corp., valued at $19,983,744 using the latest closing price.
BERKSHIRE HATHAWAY INC, the 10% Owner of Occidental Petroleum Corp., purchase 1,060,653 shares at $59.59 during a trade that took place back on Jun 14 ’24, which means that BERKSHIRE HATHAWAY INC is holding 254,947,063 shares at $63,203,570 based on the most recent closing price.
Stock Fundamentals for OXY
Current profitability levels for the company are sitting at:
- 0.33 for the present operating margin
- 0.46 for the gross margin
The net margin for Occidental Petroleum Corp. stands at 0.16. The total capital return value is set at 0.14. Equity return is now at value 13.64, with 5.65 for asset returns.
Based on Occidental Petroleum Corp. (OXY), the company’s capital structure generated 0.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.55. The debt to equity ratio resting at 0.68. The interest coverage ratio of the stock is 8.95.
Currently, EBITDA for the company is 13.95 billion with net debt to EBITDA at 1.61. When we switch over and look at the enterprise to sales, we see a ratio of 2.73. The receivables turnover for the company is 8.26for trailing twelve months and the total asset turnover is 0.36. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.95.
Conclusion
In conclusion, Occidental Petroleum Corp. (OXY) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
